Cash Crunch Reported At ATMs In 10 States, Govt Assures 'Solution' In 3 Days

| April 17 , 2018 , 12:21 IST

In a situation eerily similar to the ATM conditions soon after demonetisation in November 2016, ATMs have been reported as 'out of cash' or 'not working' in several states, including Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Bihar, Uttar Pradesh, Madhya Pradesh, Gujarat, Chhattisgarh and Telangana as well as in the national capital Delhi.

Meanwhile, the government assured that the matter would be solved in 3 days.

"We've cash currency of Rs1,25,000 crore right now. There is one problem that some states have less currency & others have more. Govt has formed state-wise committee & RBI also formed committee to transfer currency from one state to other. It'll be done in 3 days," said Mos Finance Shiv Pratap Shukla.

As reports of the cash crunch emerged in Madhya Pradesh, the Chief Minister Shivraj Singh Chouhan alleged a 'conspiracy' to create problems.

"16.5 lakh crore notes were printed and circulated in markets, but where are Rs.2000 notes going? Who is trying to create a cash crunch? This is a conspiracy to create problems & state govt will take strict action on it, we are in touch with centre also," said MP CM Shivraj Singh Chouhan to ANI.

In Telangana's Hyderabad, people reported, "We have been unable to withdraw cash from ATMs as the kiosks (ATM Kiosk), in several parts of the city, have run out of cash. We have visited several ATMs since yesterday but it is the situation everywhere."

From Varanasi in Uttar Pradesh people said, "We do not know what or where the problem is but the common man is facing difficulty as the ATM Kiosks are not dispensing cash. We have visited 5-6 ATMs since morning. We need to pay for the admission of children and purchase groceries & vegetables."

People from Bhopal in Madhya Pradesh claimed that the situation had been prevailing for the past 15 days.

"We are facing a cash crunch. ATMs are not dispensing cash. The situation has been the same since 15 days. We have visited several ATMs today as well, to no avail," locals said to ANI.

Even in the national capital Delhi, people faced problems, and said "We are facing cash crunch. Most of the ATMs are not dispensing cash, the ones which are dispensing, have only Rs 500 notes. We are facing difficulty, don't know what to do."

Union Finance Minister Arun Jaitley commented on the situation in a tweet, and said, "Have reviewed the currency situation in the country. Over all there is more than adequate currency in circulation and also available with the Banks. The temporary shortage caused by ‘sudden and unusual increase’ in some areas is being tackled quickly."

The Congress party also slammed the government for the cash crunch, questioning if the cash shortage was deliberate.

"News reports say that ATMs around the country are running of out cash. Is it just gross mismanagement by the Modi Govt or is this a deliberate move?" Congress tweeted.